Prime Minister Nikol Pashinyan has said that investors “believe in” the economic and political future of Armenia, per PanArmenian.
Attending a meeting at the Ministry of Economy on Tuesday, February 9, Pashinyan said a possible macroeconomic collapse was the the biggest challenge in 2020, given the coronavirus pandemic and the 44-day war.
“It is important to note that we were able to maintain macroeconomic stability, the international recognition of which was the issue of Eurobonds,” Pashinyan was quoted as saying by Aysor.am.
“The most visible and tangible assessment is the approach of institutional investors, when they trust the country and the government with their investments. After all, it’s a powerful indicator of trust.”
The PM said that Eurobonds were offered at record low interest rates in the history of Armenia: “This means that institutional investors believe in Armenia’s economic and political future.”
Central Bank Governor Martin Galstyan said earlier that Armenia issued its fourth Eurobond worth $750 million to manage its increased public debt and budget deficit, the Armenian Service of RFE/RL reported. Galstyan said that the dollar-denominated bonds, repayable in 10 years at an annual yield of almost 3.9%, attracted strong interest from foreign investors.